Joined: Feb '08
Location: United Kingdom
Age: 63 (M)
Posts: 55
I've played online for a while now with limited success, and have challenged myself to start a long term challenge online.
I noticed in the forums someone going from 5 to 5000, which would be some achievement, but over the course of a year or so, I'm wondering wheter it's possible, with good money management, to deposit $50, and build it up to $50000.
I'm going to make a deposit on my favourite site this week, and just play MTTs and cash games.
The limits are as follows: MTTs no more than 10% of my bankroll to start ($5 max buy in) cash games max buy in must be around 5% of my bankroll
I feel this is high risk to start with, but I will lower the percentages as I build.
Just wondering if anyone had any comments on this most difficult of challenges. Any views appreciated!
Joined: Mar '08
Location: United Kingdom
Age: 44 (M)
Posts: 6714
Its a good start, not a lot you can do with $50 id say use $100 to start if possable. 5% and 10 % is ok, just hard to play ring games should be ok for MTTs and SnGs. With good bankrollmanagment all goals are possable but then its a time issue. I think lower you target and have a realistic goal, 5k shouldent be to hard
Joined: Mar '08
Location: United Kingdom
Age: 36 (M)
Posts: 215
50$ is fine you should start by playing 0.05/0.10 using only SSS (buyin for $2) build it up to $200 following it religously
make sure u multitable aswell because you build up alot faster then at $200 still play 0.05/0.10 but insted of using short stack strategy play bigstack and buy in for $10 per table. How ever in my case i short stacked to $300 then played bigstack at 0.05/0.10 even though i had the recommended 20 buy ins at $200 i feel more comfortable with 30 buyins because i feel i have more room for errors.
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Posted by bulletdodger1: The limits are as follows: MTTs no more than 10% of my bankroll to start ($5 max buy in) cash games max buy in must be around 5% of my bankroll
I feel this is high risk to start with, but I will lower the percentages as I build.
hmm i wouldnt use 10% per MTT believe me im a really good MTT player but recently i havnt cashed in any! this is because there is more of a luck factor in MTTs one bad player can ruin you i got deep today in the 30k gtd was delt AA all in got kalled by pocket 5s which was an insult in its self considering im big stacked and was playing tight but the idiot still managed to spike a 5 on me and ruin my chances...
my biggest MTT cash is $2104 so far but unless u have like 25% ITM i dont recommend 10% of ur bankroll per MTT my ITM has droped to 8% which is bad for me im normally around 20%-25% on most sites
Joined: Feb '08
Location: United Kingdom
Age: 63 (M)
Posts: 55
padod.......
thanks for the advice, i really appreciate it.
I totally agree with you, 10% is a lot of my bankroll but, as I said in my original post, I will dramatically decrease the percentages as I get higher, I just feel that it could be a quick, albeit risky way of getting up to 3 figures nice and quickly. My thinking is, one big score in an MTT could get me up to that $200 nice and early. However, once there, I will play only around 2% of my roll per MTT.
I like your point about staying at lower stakes if you are comfortable, allows you to soak up the nasty side of variance without any long term damage to your account.
Thank you for your comment, I'll take everything on board!
Joined: May '08
Location: Germany
Age: 59 (M)
Posts: 6787
MTTs have an insane variance. So playing them with just 10 buy-ins is just asking to go broke. If you like to play MTTs go for freerolls. Some sites do offer cashgames as low as 1c/2c, so 50 bucks would be enough to play.
Joined: Jun '08
Location: Italy
Age: 41 (M)
Posts: 411
I suggest you to avoid MTT because you don't have the bankroll to play them. better stuck on ring games at micro limit, of course in a room which rewards low limit players like full tilt
Joined: Jan '08
Location: Canada
Age: 36 (M)
Posts: 2698
Good luck, I'm kind of on a 0 to 1mill lifetime goal but I'm taking my sweet time I usually play 6-10man sit and gos. Never played MTT but I know there's more variance than smaller tournament. But if you have experience playing them, go for it. If I dropped down to $25 or so than I'd play smaller tournament or lower limit.
Joined: May '08
Location: Netherlands
Age: 42 (F)
Posts: 314
Good luck with your goal ! I like to play MTT but for the most part I play only $3 buyin because you do need a bit of luck to end up high with all the all-ins. I avoid re-buys... you can't play normal for the first hour every hand someone goes all-in
Joined: Mar '08
Location: Lithuania
Age: 34 (M)
Posts: 14
heh i once deposited 100euros in gnuf and myplan was build up to 3000euros i made half but two weeks later unluck yabd ebats and so terible week im was in zero :/ so beter need goal soemthing liek 10times your deposit not 30 or 50times gl mate
Joined: Sep '07
Location: Brazil
Age: 40 (M)
Posts: 84
I'm planning to play veeery little with my $55 make it last for weeks or months my biggest enemy is myself tilt, wrong bankroll management, strong urge to gamble after that I can think about more advanced strategies...
Joined: Feb '08
Location: United Kingdom
Age: 63 (M)
Posts: 55
update guys, finished for the day, with $54
good start so far, made the majority of my money in PLO cash game, 2 big hands hitting straight over straight, and holding up with a set v nut flush draw.
Off to bed now, fresh for some low stakes MTTs tomorrow morning.
That is in fact my initial target, and hopefully from there, with a little luck who knows ?
